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re: A point about socialism v capitalism that isn’t made nearly enough by capitalists
Posted on 5/31/21 at 1:43 pm to Zach
Posted on 5/31/21 at 1:43 pm to Zach
quote:Free trade exists without governments but capitalism can't exist without government in a true sense. Government is involved in a limited capacity but is still necessary, according to Adam Smith, to maintain order and to protect the rights of private ownership.
Socialism is an economic system that must be established by govt.
Capitalism existed before govt existed.
This is an odd argument (from OP) because you can practice free trade in a communist system and you can practice socialism or Communism in a capitalist system. But that's not the real issue.
This post was edited on 5/31/21 at 1:46 pm
4
Posted on 5/31/21 at 1:47 pm to Pecker
quote:
Free trade exists without governments but capitalism can't exist without government in a true sense. Government is involved in a limited capacity but is still necessary, according to Adam Smith, to maintain order and to protect the rights of private ownership.
That's not economics. That's the judicial system. It's required in everything to settle disputes. That's why even the most extreme libertarians (me) see courts as a legitimate purpose of govt.
Posted on 5/31/21 at 1:47 pm to Pecker
quote:
because you can practice free trade in a communist system
Wut
Posted on 5/31/21 at 1:49 pm to Pecker
quote:
But that's not the real issue.
What's the real issue?
Posted on 5/31/21 at 2:17 pm to Pecker
quote:
Free trade exists without governments but capitalism can't exist without government in a true sense.
You've got this backwards. Government involvement isn't true capitalism. Which we don't have here in the US because of our government involvement.
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